Subprime crisis still looms like the sword of Damocles

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Every solution discussed so far has been fool’s gold. We urgently need a better way out

Remember the good old days, when we used to talk about the “subprime crisis” and some even thought that this crisis could be “contained”? Oh, the nostalgia! Today we know that subprime lending was only a small fraction of the problem. We’re living in a world of troubled borrowers, with new kinds of debt trouble which just keep popping up.

How did this global debt crisis happen? Why is it so widespread? The answer, I’d suggest, can be found in a speech Ben Bernanke, the Federal Reserve chairman, gave four years ago. At the time, what Bernanke said nonetheless foreshadowed the bust to come.The speech, titled “The Global Saving Glut and the US Current Account Deficit,” offered a novel explanation for the rapid rise of the US trade deficit in the early 21st century. The causes, he argued, lay not in America but in Asia. In the mid-1990s, the emerging economies of Asia were major importers of capital, borrowing abroad to finance their development. But after the Asian financial crisis of 1997-98, these countries began protecting themselves by amassing huge war chests of foreign assets, exporting capital to the rest of the world.


For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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Walk into either Harrod or Selfridges and then walk into the Indian retail outlet of Shoppers Stop.

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Difference that hurts...

Christened after the family name ‘Harrods’, the store in London became UK’s largest retailer shop in the 19th century and by the beginning of the 20th century Harrods had made plans to expand beyond UK. Then there was another entrepreneur Harry Gordon Selfridge, who, bucked up with his retail expertise, set up another department store known as Selfridge in 1909. Both these family-run ventures are UK’s largest two stores (Harrod’s being the biggest, followed by Selfrdiges). A century after Selfridge started business, another departmental store in India – Shoppers Stop is fighting hard to grow, despite working along the same model that Selfridges and Harrods thrived on – an overcautious and slow growth model...

But any similarity only exists on paper. Walk into either Harrod or Selfridges and then walk into the Indian retail outlet of Shoppers Stop. The UK-based retailers are known for the overall ambience and architecture (designed by UK’s leading designer JHP), and they provide for their shoppers a world of rich experience, besides simply the products with a price tag! Premium positioning is what Shoppers Stop is also trying to ape from the two UK-retailers, and lest we sound pessimistic, given the fact that the nation is still predominantly a developing nation, extremely high investments on extremely premium brands makes little business sense.


For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus

ZEE BUSINESS BEST B SCHOOL SURVEY

For More IIPM Info, Visit below mentioned IIPM articles.
1500-plus IIPM students placed across the country with 44 bagging international offers
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But both MD Nagesh and CEO Govind knew the warning signs were already there.

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The numb’ers

For eighteen straight years, Nagesh has intently focused on growing Shoppers Stop’s geographical reach. And the impact has been frivolously brilliant, especially in terms of revenues. Look at just the last five years. From Rs.3,448 million turnover in FY 03-04, Shoppers Stop jumped 27% to Rs.4,411 million in FY 04-05. The next year was brilliantly more fantastic. A super growth of 42% made revenues shoot up to Rs.6,228 million in FY 05-06. With Rs.8,123 million in FY 06-07 (30%) and Rs.10,799 million in FY 07-08 (32%), Nagesh commandingly was traversing the upper crust. But both MD Nagesh and CEO Govind knew the warning signs were already there. With three quarters of this year giving Rs.9,606.6 million turnover, replicating last year’s growth might not be possible at all; though all indications are that they will surely beat last year’s revenue figures.

It’s quite ironical then that the year in which Shoppers Stop has reached the historical high grandstand of its revenues, is the same year that has perchance been the worst for it during the past decade. Even before the start of the year, the last quarter of the previous year had given them Rs.25.6 million loss (net after taxes). If that looked only trite figurative or bookish, the next quarter made its intentions clear. A mammoth Rs.256 million loss. The third quarter of the year ending September 2008 was the movie 300 in action; a bloodbath of Rs.496.7 million loss. Fourth quarter ending December 2008 gave another loss of Rs.32.6 million.


For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus

IIPM Ranked No. 1 B-School In Global Exposre - Zee...

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1500-plus IIPM students placed across the country with 44 bagging international offers
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The Hindu : Education Plus : Honour for IIPM
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If the ‘91 inaugural Andheri store started in an upstreet Linking Road in Mumbai smoked the intent,

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Think about it... For decades, the only option for a godforsaken departmental store that Indians ever had was the nightmare of a shopping excuse called Super Bazaar! And if you’re one of the teeming wastrel dozens who had their penny-wise romantic interludes in the generation spanning Kendriya Bhandar, none the better. Come 1991, and Nagesh became the Salvador Dali of shopping, romanticising the art for Indians in a way they felt was alien, yet enslavingly addictive. If the ‘91 inaugural Andheri store started in an upstreet Linking Road in Mumbai smoked the intent, the Ansal’s Plaza outlet in New Delhi went the full figurative blast. From one store in 1991 to 36 in 2009 (and 51 CrossWords, 3 HyperCity Marts), Nagesh, and Shoppers Stop, had arrived! But like I said, till the last year.


For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus

ZEE BUSINESS BEST B SCHOOL SURVEY

For More IIPM Info, Visit below mentioned IIPM articles.
1500-plus IIPM students placed across the country with 44 bagging international offers
IIPM set to beat economic slowdown
IIPM, GURGAON
IIPM - Admission Procedure
IIPM awards four Bengali novelists
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
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Israel’s new government promises consensus, but it’ll have to take very tough decisions

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Together we resolve that we’ll agree to disagree...

At the same time, the right-wing mantra – victory – failed to offer a credible way to replace the Iranian and Syrian governments, or to destroy Hamas and Hezbollah. There is neither the illusion nor the desire to hold onto captured territories permanently, or to build Jewish settlements, and Israel has virtually no international support for any of these.

With alternatives to the status quo constrained, it has become clear that Israel is in a long transitional period in which old ideas don’t work and a new approach is needed.

Foreign Minister Tzipi Livni’s Kadima party, opposition leader Binyamin Netanyahu’s Likud party, and Defence Minister Ehud Barak’s Labor party all fall within a centrist consensus, also reflecting a popular national consensus.

Thus, regardless of who becomes prime minister, the next government will not commit to real concessions to the Palestinians in exchange for a two-state solution unless the result will be an end to the conflict. Few believe that the PA and Hamas’s main rival, Fatah, will be willing or able to make such an agreement for decades. The same applies to Syria.


For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus

ZEE BUSINESS BEST B SCHOOL SURVEY

For More IIPM Info, Visit below mentioned IIPM articles.
1500-plus IIPM students placed across the country with 44 bagging international offers
IIPM set to beat economic slowdown
IIPM, GURGAON
IIPM - Admission Procedure
IIPM awards four Bengali novelists
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...
domain-b.com : IIPM ranked ahead of IIMs
IIPM makes business education truly global-Education-The Times of ...

The footage behind a crime

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The more chaos world inherits, the more revenue Boeing generates

To begin with, Boeing is the world’s largest aerospace company and defence contractor whose operations span from manufacturing aircraft to designing intelligence & security systems, international ballistic missile systems and even international space stations. Some of their advanced defence products range from airlifts, tankers, missile defence systems, battle communication networks, missile weapons, rotorcraft (helicopters), fighters, bombers and unmanned aerial vehicles. Its revenue increased from $61.53 billion in 2006 to $66.4 billion in 2007; but fell relatively to $60.9 billion in 2008. Boeing representatives amusingly are highly optimistic about the recession and have forecasted that Boeing’s revenue will touch around $68-69 billion in 2009. The reason is because even though we know of Boeing primarily as an aircraft manufacturer, almost half of its gross revenue comes from the sale of defence equipment. Boeing generates the highest revenue among all defence dealers. And given the increase in regional conflicts, good times are a coming surely!


For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus

IIPM Ranked No. 1 B-School In Global Exposre - Zee...

For More IIPM Info, Visit below mentioned IIPM articles.
1500-plus IIPM students placed across the country with 44 bagging international offers
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IIPM, GURGAON
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The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
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Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...
domain-b.com : IIPM ranked ahead of IIMsIIPM makes business education truly global-Education-The Times of ...

That’s the equation running global defence equipment sales, with US, Russia, et al basking ingloriously

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Defence = Offensive economics!

The indiscernible thread that binds the F-16s of Lockheed Martin and George Bush is that both are from Texas. At the Fort Worth factory of Lockheed Martin, the jobs of nearly 5,000 workers depend heavily on whether Lockheed gets new orders for F-16s from outside the US, given that the US armed forces have stopped procuring fresh F-16s. Thus, Lockheed depends critically on the sales of aircraft to other countries like Pakistan; and India too. So, for George Bush, it was simple socialism at best, which made him take the decision to sell F-16s to Pakistan. Yet, even then, he could not save the jobs of nearly 2000 workers.

Cut to the present and to Obama’s predicament. If the Indian Air Force order for procuring 126 MMRCA (Medium Multi Role Combat Aircraft) doesn’t come to Lockheed Martin – for which they have even developed a new version named F-16 IN, better than the ones used by the US Air Force and Navy – then most of the employees at Fort Worth would see the end of their professional journey. Barack has published his formal statement that he would “develop a strategy for determining when contracting makes sense, rather than continually handing off governmental jobs to well-connected companies.” Would Obama disregard his glorious value statement and, like his predecessor, step in to see that IAF bends to Lockheed’s universe?


For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus

IIPM Ranked No. 1 B-School In Global Exposre - Zee...

For More IIPM Info, Visit below mentioned IIPM articles.
1500-plus IIPM students placed across the country with 44 bagging international offers
IIPM set to beat economic slowdown
IIPM, GURGAON
IIPM - Admission Procedure
IIPM awards four Bengali novelists
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...
domain-b.com : IIPM ranked ahead of IIMsIIPM makes business education truly global-Education-The Times of ...